SDB announces incentives for shifting diamond business from Mumbai to Surat

Surat: Surat Diamond Bourse (SDB) will put up the names of the members shifting their business from Mumbai to Surat at the reception of the bourse for a lifetime under the list ‘Leading member of SDB that started diamond trading’, as per a decision made by the managing committee of SDB.

Such members will not have to pay the maintenance charge for the first six months, as per a circular of SDB. The circular further states that such members can purchase diamonds from anywhere but cannot send samples or sell products from Mumbai. It means that they have to discontinue selling from Mumbai and start selling from SDB. The offer is available to only those who start selling from SDB from 31st December 2022.

SDB has stated in a Gujarati circular that the only motive of the decision is to promote business at SDB. There is no intention to hurt the feelings of any person or organization, it adds.